BERLIN – Germany’s Deutsche Boerse is lowering the number of shareholders required to approve its planned merger with the London Stock Exchange — a move that comes as Britain’s vote to leave the European Union has raised questions over the deal.
Frankfurt stock exchange operator Deutsche Boerse said Monday that the minimum acceptance threshold will be lowered from 75 per cent of its shares to 60 per cent. The acceptance period is being extended by two weeks to July 26.
London Stock Exchange shareholders voted by an overwhelming majority last week to back the planned merger.
The companies announced the deal in March. The plan calls for them to be united under a U.K.-based holding company — an idea questioned by some in Germany in the light of the British referendum.